Australia has been listed as the world's best country for mining investment again in terms of political risk by global resources consulting firm Behre Dolbear, local media reported on Tuesday.

In its annual political risk assessment of the mining industry, Behre Dolbear placed Australia at the top of its 25-nation ranking, ahead of Canada, the U.S. and Brazil.

Behre Dolbear Chief Executive Officer Karr McCurdy said Australia had topped the list for the third year in a row.

"There's no place better than Australia to put your investment dollars at work with respect to the underlying political, if you will, risk," he told the Australian Broadcasting Corporation (ABC).

The global mining business consultant said the 25 countries considered in its 2012 survey were ranked on seven criteria: economic system, political system, the degree of social issues affecting mining, delays in receiving permits, the degree of corruption, the stability of the country's currency and the competitiveness of the country's tax policy.

The survey examines how nations' political policies and business conditions promote investment growth in the mining sector but does not consider economic returns or other investment factors as part of its assessment.